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Essential IR Insights Newsletter - February 2023

China Vanke, partners ink 12.87B yuan Blackstone deal; GLP to issue panda bonds

* and unnamedthird-party partners intendto acquire 96.55% equity interests in certain target companies owned by fundsmanaged by affiliates of BlackstoneGroup LP. The property developer proposed to shoulder around 3.89billion Chinese yuan of the transaction's estimated value worth 12.87 billionyuan.

* plansto issue 1.5 billion yuan of panda bonds on the Shanghai Stock Exchange. Thecompany priced the notes with an annual interest rate of 3.12% for thethree-year bonds and a 3.58% annual interest for the five-year bonds.

* saidRH International Finance Ltd. plans to issue notes only to professionalinvestors under a US$1.00 billion medium-term note program, which is expectedto be listed in Hong Kong on or around July 12.

* gained theapproval of the Philippines' Securities and Exchange Commission for itsissuance of fixed-rate bondsworth up to 60 billion Philippine pesos, ThePhilippine Star reported.The company intends to use the net proceeds to fund its commercial and hotelsegments.


* plansto follow a new segment reporting structure starting in the financial yearending June 30. It also restated historical data for the fiscal 2015 period andthe half year ended Dec. 31, 2015, to guide investors in the transition.The change is part of the company's management structure review.

* The Australian Financial Review reported,citing various analysts, the pros and cons of the A$1.5 billion Viva EnergyREIT, which recently said that it targets to raise A$911 million from anIPO.

* The City West Joint RegionalPlanning Panel of Sydney approved Dyldam's A$600 million mixed-use developmentproject at the Auto Alley site in Parramatta, the AFR reported.The project has the capacity for 779 residential units across seven buildingsand three prime sites at Church Street, along with 39,099 square meters ofretail and commercial spaces.

* Lee Tai Enterprises plans tosell the Edgecliff Centre in Sydney in hopes of reaping over A$120 million inthe process, as the company wants to take advantage of an upswing in retailproperty values in the city, TheAustralian reported.The building comprises 10,845 square meters of mixed-use space.

* BIS Shrapnel data for Mayrevealed a continually stable underlying demand for office space in Melbourneand Sydney, while recording a slump in Brisbane, Perth and Adelaide, the AFR reported.

* STR preliminary June data,meanwhile, said that Melbourne saw 1.7% and 4.2% year-over-year increases insupply and demand in the hotel sector. Occupancy and RevPAR in the comparableperiod were also up 2.4% and 1.1%, respectively, while average daily raterecorded a slight dip of 1.3%.


* and itssubsidiaries recorded approximately 12.7 billion yuan of contracted sales inJune, up from around 8.24 billionyuan a year ago, according to a filing.

* priced 50units at its Park Yoho Sicilia project in Yuen Long, Hong Kong, The (Hong Kong) Standard reported.The company also deployed 52 more units from its project.

* Said to be a way to shortenthe lock-up period inChina Vanke and Shenzhen Metro Group Co. Ltd.'s agreement, the developer's topshareholder Baoneng Group claimed that it only plans to be a long-term strategicfinancial investor in China Vanke, the Paper reported.

* unitGuangzhou Xuling Property Development Co. Ltd. agreed to buy the entire equityinterests of Foshan Huaxiang Property Development Co. Ltd. and Foshan HuijinHengtian Property Development Co. Ltd. for around 522.3 million yuan.Foshan Huaxiang andFoshan Huijin are two project companies involved in the development of twosites in Foshan, China.


* Mitsui FudosanResidential Service Co. Ltd. will move to a new headquarters in Toyosu, KotoWard, on July 19, Jutaku-Shimpo-sha reported.

* Yasuda RealEstate Co. Ltd. will open a tourist-friendly hostel refurbished from a 50-yearold office building in Chuo Ward, Tokyo, on July 22. The top floor of theproperty also has a serviced apartment, Jutaku-Shimpo-shareported.


* Moody's lowered its issuerrating on Keppel REITto Baa3 from Baa2 with a stable outlook, partly reflected by the rating agency'sexpectation that the REIT's weakened financial metrics will not see a materialimprovement in the next two to three years.


* anticipates investors toshow interest in the company's sale of up to 10,000 rai of land in Rayong, Thailand,Bangkok Post reported,citing WHA CEO and Vice Chairman Jareeporn Jarukornsakul. The company expectsstrong demand for the sale as the province will be part of the Eastern EconomicCorridor project.

* V E Hotel & Residencelaunched the V E Hotel & Residence Bangsar South in Kuala Lumpur, Malaysia,a four-star 337-room hotel with 90 fully furnished service residences,according to a release.


*Singapore-listed Chiwayland International made its first investment in the U.S.real estate market by acquiring a 50% stake in a joint venture that willdevelop a US$69 million mixed-use project in Los Angeles, The (Singapore) BusinessTimes reported.

The Daily Dose Asia-Pacific,Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external linksmay require a subscription. Articles and links are correct as of publicationtime.